7 Inconvenient Truths for the High Income Earner with David Phelps | 532

There is a considerable difference between wealth and income. Many people tend to confuse the two. One of the significant differences is that income is transactional, meaning you must keep showing up to make money. Have you met people who make multiple six or seven-figure incomes and are still broke?In this episode, I have Dr David Phelps joining me on the show. David and I will be talking about the inconvenient truths of high-income earners. David owned and operated his private practice in the dental space for 20 plus years. Significant life interruptions happened. Luckily, he had been doing things in the real estate game and investing doing things outside of the traditional norms. As a result, he was able to have more time to his disposal.David will share his story. Listen and learn.Key Talking Points of the Episode:[03:24] Getting to know David's story[07:43] What is happening in the real estate market?[11:27] Inconvenient truths of high-income earners[22:20] Captive insuranceStandout Quotes from the Episode:"Everybody forgets and when times are good, people tend to forget that not everything keeps going up forever.""Whatever you start today, whatever your construct is, start it early and add to it as you go that compound effect the snowball effect in a positive way."Resources Mentioned:Secured Investment Corp: https://securedinvestmentcorp.com/Visit us online at moneyripples.com. For more resources to help you fix money leaks and get your money working harder for you now.